From a low of 1.1830, the EUR/USD has risen and fallen.
The upside continues to be capped by the 200-day SMA.
So far, the EUR/USD selling tendency appears to have stalled around 1.1830. This initial point of disagreement corresponds to the lows of March 9.
Further pullbacks should not be considered out in the current environment. In the immediate term, though, a breach of the 1.1830 zone should allow for a rise to 1.1800.
The EUR/USD is expected to continue bearish in the near term as long as it remains below the crucial 200-day SMA, which is now at 1.1995.
Meanwhile, present oversold conditions may allow for a quick recovery./n
